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According to reports, the growth of the global OTT marketplace is accelerating much more because of the pandemic. Previously, the compound annual growth rate (CAGR) was 16%. Post-pandemic, this number is expected to reach 19% by 2026, the market value could reach US$438.5 billion. King of the OTT platforms, Netflix is well-known for providing high-quality content with endless options. Netflix is globally popular for its services, and the secret behind is technologies like AI and machine learning that serve more relevant and intuitive recommendations to audiences. Netflix and AI together enable audience preferences and help provide customized recommendations for a user's playlist. This article features the top ten ways Netflix is utilizing Artificial Intelligence effectively in 2022.
Netflix has been using artificial intelligence to power content-recommendation for years. Using the watching history of other users sharing similar interests helps Netflix to suggest what you may be most interested in watching next so that you stay engaged and continue your monthly subscription for more. The recommendation system of Netflix works on an algorithm that learns as the data get collected.
Millions of people watch Netflix every day, and there is data in bulk amount coming to the organization that has to be stored and analyzed. The online streaming service provider utilizes various types of data, ratings from users, social media information, search terms, etc.
Netflix uses artificial intelligence and machine learning to predict which images best engage which viewers as they scroll through the company's many thousands of titles. It is one of the best ways Netflix is utilizing Artificial Intelligence effectively in 2022.
The availability of rich content metadata is a need for making material searchable. Each frame in the content library's videos has metadata, which is information about what and how the characters are presented, as well as their emotional state and nature. By gathering metadata properly, Netflix and AI can target those emotions and build customized highlights to direct the user to the show that he is most likely to love, hence increasing viewership and user pleasure.
Netflix has created AVA to source stills from its many thousands of titles that will eventually become the representative images that the company uses to drive viewer engagement. This is one of the best ways Netflix is utilizing Artificial Intelligence effectively in 2022.
When compared to generic material, bite-size video and short-form content are likely to improve engagement by a factor of ten. Netflix uses AI to create teasers, highlights, recaps, and trailers for shows that can boost viewership because viewers don't have to sift through hours of information to discover what they want to see.
The AI technology can intelligently adjust the video quality based on network quality. It can intelligently switch between video qualities without affecting the user's experience. Artificial Intelligence can also learn the user's favorite video quality over time and switch to it whenever the user watches a video. Netflix has adopted approaches to adapting content and services based on a range of data, AI, and Machine Learning that can help solve these difficulties and provide a richer and more engaging experience for audiences.
The first is to make content production faster and more efficient, lowering costs and shortening time-to-market – critical in a world where video consumption is currently king. This is one of the best ways Netflix is utilizing Artificial Intelligence effectively in 2022.
The delivery of material to end-users is the second area of transformation. Netflix is a pioneer in this field. Its most recent patents are for AI and machine learning-based recommendation systems that are based on user preferences and provide rapid and exact recommendations with a high degree of personalization.
The data speeds have increased in the past few years, but so has the video quality of web content on Netflix. With the option to stream content in 4K video quality, the data and speed requirements have significantly increased. This can lead to a lot of buffering issues that can potentially drive subscribers away.
